Zacks Research Has Strong Forecast for IMAX FY2024 Earnings

IMAX Co. (NYSE:IMAX) – Investment analysts at Zacks Research boosted their FY2024 EPS estimates for IMAX in a report issued on Wednesday, November 20th. Zacks Research analyst R. Department now expects that the company will earn $0.72 per share for the year, up from their prior forecast of $0.58. The consensus estimate for IMAX’s current full-year earnings is $0.78 per share. Zacks Research also issued estimates for IMAX’s Q4 2025 earnings at $0.38 EPS, FY2025 earnings at $0.77 EPS, Q1 2026 earnings at $0.21 EPS, Q2 2026 earnings at $0.15 EPS and FY2026 earnings at $0.85 EPS.

A number of other research firms have also recently commented on IMAX. Barrington Research reissued an “outperform” rating and issued a $24.00 target price on shares of IMAX in a report on Thursday, October 31st. JPMorgan Chase & Co. increased their target price on shares of IMAX from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Wedbush increased their target price on shares of IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, September 3rd. Roth Mkm increased their target price on shares of IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $28.00 target price on shares of IMAX in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, IMAX presently has an average rating of “Moderate Buy” and an average target price of $24.22.

IMAX Stock Down 0.1 %

Shares of IMAX stock opened at $25.24 on Monday. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 57.48, a PEG ratio of 1.61 and a beta of 1.22. IMAX has a 12-month low of $13.20 and a 12-month high of $25.78. The firm’s 50-day moving average price is $21.86 and its two-hundred day moving average price is $19.59.

IMAX (NYSE:IMAX) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.12. The firm had revenue of $91.50 million for the quarter, compared to the consensus estimate of $93.71 million. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The business’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.27 earnings per share.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. FMR LLC raised its holdings in IMAX by 108.4% during the 3rd quarter. FMR LLC now owns 3,949,643 shares of the company’s stock worth $81,007,000 after purchasing an additional 2,054,031 shares during the last quarter. Victory Capital Management Inc. raised its holdings in IMAX by 33.1% during the 2nd quarter. Victory Capital Management Inc. now owns 1,293,221 shares of the company’s stock worth $21,687,000 after purchasing an additional 321,506 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in IMAX by 90.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 587,694 shares of the company’s stock worth $9,856,000 after purchasing an additional 279,410 shares during the last quarter. Castleark Management LLC bought a new position in IMAX during the 3rd quarter worth approximately $5,199,000. Finally, Pier Capital LLC bought a new position in IMAX during the 3rd quarter worth approximately $4,221,000. Institutional investors own 93.51% of the company’s stock.

About IMAX

IMAX Corporation, together with its subsidiaries, operates as a technology platform for entertainment and events worldwide. The company operates in two segments, Content Solutions and Technology Products and Services. The company offers IMAX DMR, a proprietary technology that digitally remasters films and other content into IMAX formats for distribution to the IMAX network; IMAX Enhanced that provides end-to-end technology across streaming content and entertainment devices at home; and SSIMWAVE, an AI-driven video quality solutions for media and entertainment companies.